Stocks to watch on the Australian stock exchange on Wednesday:

BHP – BHP BILLITON

FMG – FORTESCUE METALS GROUP

RIO – RIO TINTO

Iron ore hits the $US40 mark, losing 90 US cents overnight.

OSH – OILSEARCH

STO – SANTOS

WPL – WOODSIDE PETROLEUM

Energy stocks could again suffer with WTI oil dropping more than two per cent to $US30.61 and Brent crude down 1.52 per cent at $31.07.